It's time for qualifying members of National & Provincial to register for the windfalls they are to be paid as part of the society's takeover by Abbey National. The society has sent registration forms to 1.4 million savers and borrowers. The deadline for returning the forms is 31 May.

Some 800,000 two-year qualifying savers are being offered shares or cash worth pounds 750 plus 7 per cent of their balances. Other qualifying savers and borrowers get pounds 500 of shares - they do not get the cash option. Some people who might want to avoid the cash option are those who expect to make capital gains this tax year. The cash windfall will be treated as a capital gain in this tax year, which could mean some people with other gains paying tax.